Prologis (NYSE:PLD) PT Lowered to $124.00

Prologis (NYSE:PLD) had its price target reduced by equities research analysts at Royal Bank of Canada from $145.00 to $124.00 in a report released on Monday, Benzinga reports. The firm presently has an “outperform” rating on the real estate investment trust’s stock. Royal Bank of Canada’s price objective indicates a potential upside of 18.88% from the stock’s previous close.

Several other analysts have also weighed in on the company. Barclays lowered their price objective on Prologis from $135.00 to $123.00 and set an “overweight” rating for the company in a report on Monday, April 29th. Raymond James raised their price objective on Prologis from $130.00 to $145.00 and gave the stock a “strong-buy” rating in a research note on Wednesday, January 24th. StockNews.com lowered shares of Prologis from a “hold” rating to a “sell” rating in a research note on Wednesday, April 24th. The Goldman Sachs Group reduced their price target on shares of Prologis from $163.00 to $140.00 and set a “buy” rating on the stock in a research report on Monday, April 22nd. Finally, TheStreet raised shares of Prologis from a “c+” rating to a “b-” rating in a research report on Friday, January 26th. One analyst has rated the stock with a sell rating, four have given a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $131.12.

Prologis Stock Down 1.5 %

PLD stock traded down $1.58 during mid-day trading on Monday, hitting $104.31. 2,339,361 shares of the company were exchanged, compared to its average volume of 3,536,985. The firm has a fifty day simple moving average of $122.11 and a 200 day simple moving average of $121.84. The company has a market capitalization of $96.57 billion, a PE ratio of 30.53, a price-to-earnings-growth ratio of 2.20 and a beta of 1.05. Prologis has a twelve month low of $96.64 and a twelve month high of $137.52. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.51.

Hedge Funds Weigh In On Prologis

A number of institutional investors have recently bought and sold shares of PLD. Valeo Financial Advisors LLC raised its stake in shares of Prologis by 182,067.2% during the 1st quarter. Valeo Financial Advisors LLC now owns 48,877,279 shares of the real estate investment trust’s stock worth $6,364,799,000 after purchasing an additional 48,850,448 shares in the last quarter. Norges Bank acquired a new stake in Prologis during the fourth quarter valued at approximately $1,074,648,000. Capital World Investors grew its holdings in shares of Prologis by 1,252.9% in the 4th quarter. Capital World Investors now owns 7,305,582 shares of the real estate investment trust’s stock worth $973,834,000 after purchasing an additional 6,765,582 shares during the last quarter. J.P. Morgan Private Wealth Advisors LLC acquired a new stake in shares of Prologis during the third quarter worth approximately $185,164,000. Finally, Massachusetts Financial Services Co. MA boosted its stake in Prologis by 6.7% in the third quarter. Massachusetts Financial Services Co. MA now owns 16,519,324 shares of the real estate investment trust’s stock worth $1,853,633,000 after purchasing an additional 1,034,211 shares in the last quarter. Hedge funds and other institutional investors own 93.50% of the company’s stock.

About Prologis

Prologis, Inc is the global leader in logistics real estate with a focus on high-barrier, high-growth markets. At December 31, 2023, the company owned or had investments in, on a wholly owned basis or through co-investment ventures, properties and development projects expected to total approximately 1.2 billion square feet (115 million square meters) in 19 countries.